Newport World Resorts has reported net revenue of PHP7.3bn (US$128.5m) for the three months to June 2023.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Newport World Resorts casino complex<\/strong> has shared its financial results for the second quarter of the year. Net revenue was down 7.6 per cent quarter-on-quarter from\u00a0PHP7.9bn<\/strong>\u00a0(US$140.9m) to PHP7.3bn (US$128.5m)\u00a0<\/strong>but up 4.3 per cent when compared to last year.<\/p>\n\n\n\n Gross gaming revenue (GGR) for the period was down 2.2 per cent from the previous quarter but up 6.1 per cent year-on-year at PHP8.7bn. Travellers International Hotel Group<\/strong>, the company that operates the Newport World Resorts casino complex, saw a 27.3 per cent rise in net revenues year-on-year to PHP15.15bn. GGR rose by 19.7 per cent to PHP17.6bn.<\/p>\n\n\n\n In the second quarter of 2023, Travellers International posted PHP302m in net profit, a year-on-year rise of 124.8 per cent. The cumulative net profit for the first half was PHP516m, in contrast to PHP19m in the first half of 2022.<\/p>\n\n\n\n Alliance Global<\/strong>, the controlling entity of Travellers International Hotel Group, underscored the growth of GGR at Travellers International, driven by a consistent recovery in the mass segment and ongoing improvement in the VIP business. It noted a 24 per cent year-on-year rise in net gaming revenues for the first half, reaching PHP11.9bn.<\/p>\n\n\n\n Non-gaming core revenues, encompassing services such as hotels, food, drink and other amenities, exhibited year-on-year growth of 43.5 per cent to PHP3.3bn. This was attributed to more mall visitors, improved hotel occupancy and more corporate events and MICE (meetings, incentives, conventions, and exhibitions) activities.<\/p>\n\n\n\n